What is financial emergency?

[Passiveearner]

Whenever a country suffers from financial problems, things could get worst. Under such kind of circumstances, the country may declare financial emergencies. This kind of conditions may arise when the financial condition of a country could get worst and take a dangerous turn. So, what is financial emergency? What can a country do and how does it affect businesses in a country? having said that, financial emergencies could also be declared by companies as well, isn't it?

 

[Starmix]

I think the government in my country borrowed billions from the World Bank during the rage of the coronavirus. The money was spent on the buying of the vaccine until, the time countries in the world give free medicine like China, United States, Russia, Germany, Switzerland, and more.

 

[eldavis]

I believe this should be when a country is in serious need of money or have fallen into serious debt. I think one way to avoid this is proper management of national funds.

 

[Starmix]

Our country leaders do their very best to save the problems of the people in the entire nation no matter what and the only way is to borrow money from the World Bank.

 

[nomad]

If the country does not have funds to import essentials like food, fuel, medicines, etc. than the country is said to be in a financial emergency. Recently, Sri Lanka went into a financial emergency.

 

[Stardom22]

According to my own understanding, l would say that financial emergency is the situation whereby a person is found off guard by issues that require some money for them to be solved out in a very short time frame.